Statoil to Drill in Arctic Despite Previous Disappointments
Statoil's exploration campaign in the Barents Sea was disappointing this year, but the company has firm plans to drill another five wells there in 2018, a spokesman said on Monday. Statoil's last Barents well of 2017, at Koigen Central some 100 kilometres northwest of the Johan Castberg discovery, failed to find hydrocarbons, the Norwegian Petroleum Directorate said earlier.
Norway Remains Among World's Top 10 Places to Discover Oil
Norway remains among the top 10 places to find oil worlwide, with the Arctic region still having much potential despite recent disappointing exploration results, consultancy firm Wood Mackenzie said on Thursday. Earlier this week Norway's Statoil reported yet another dry well in the Barents sea, some 100 kilometres northwest of the Johan Castberg discovery.
Increased Cooperation in the Barents Sea
Statoil, Eni Norge, Lundin Norway, OMV and GDF SUEZ will collaborate on solving operational tasks tied to exploration in the Barents Sea. The project, called BaSEC, Barents Sea Exploration Collaboration, will initially last for three years. The project will cover the Barents Sea, but with a special focus on the areas included in the 23rd licencing round.
Statoil: Barents Sea Exploration Completed
Statoil has completed the extensive 2013-2014 exploration programme in the Barents Sea. This represents an all-time high exploration activity and 10% of all exploration wells drilled in the Barents Sea since its opening in 1980. “This is a unique exploration programme. A commitment of this size and complexity requires geological, technological and organisational muscle…
EMGS Expects Revenues from NCS 23rd Licensing Round
On 18 May 2016, The Ministry of Petroleum and Energy announced the offer of ten new production licenses in the 23rd licensing round on the Norwegian continental shelf to a total of thirteen (13) companies. All ten licenses are in the Barents Sea, of which three licenses are in the new area in the southeastern Barents Sea. Based on these awards, Electromagnetic Geoservices ASA (EMGS) expects to realize uplift revenues…
Statoil Plans Barents Sea Exploration
Statoil aims to conduct a major exploration campaign in several parts of the Barents Sea in 2017. The company is also strengthening its position in the area through several transactions with other companies. “We have worked systematically on developing an exploration portfolio for testing good and independent prospects in 2017 and 2018. For 2017 we see promising prospects in different parts of the Barents Sea.
EMGS Reports Multi-client Sales
Electromagnetic Geoservices ASA (EMGS) has signed a data licensing agreement with a customer worth USD 3.5 million for the provision of 3D EM data from EMGS's multi-client data library in the Barents Sea. "It satisfying to note that our multi-client library continue to provide value for new and existing clients in the Barents Sea. An increased acceptance of EM as a value adding exploration tool in the region…
EMGS Reports Multi-client Sales
Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data related to the 23rd licensing round in the Barents Sea. The agreement is worth USD 2.5 million, before potential adjustment for partner's share of revenues. "It satisfying to note that our multi-client library continues to provide value for new and existing clients in the Barents Sea.
Norway's 2016 Oil & Gas Plan has Arctic Focus
Norway launched its 2016 oil and gas licencing round in mature areas on Thursday, expanding it to include blocks in the Arctic Barents Sea in a bid to increase northern exploration activity, the oil ministry said. "The petroleum industry is still moving towards the north. By announcing new blocks in the Norwegian Sea and the Barents Sea the government is facilitating increased activity in the north…
EMGS Reports $1.6m Multi-client Sales
Marine controlled-source electromagnetic (CSEM) data provider EMGS informs it has entered into two new data licensing agreements with two oil companies for the provision of 3D EM data from EMGS's multi-client data library over the Barents Sea and the Norwegian Sea worth $1.6 million. The multi-client revenues, which are a combination of prefunding and late sales, will be booked in the third quarter of 2015.
Oil Firms Take 'great interest' in exploring Norway's Arctic
Oil companies are expressing great interest in exploring Norway's Arctic Barents Sea ahead of the government's latest licensing round, the 24th such round since awards were first made in the 1965, Oil and Energy Minister Terje Soeviknes said. "The new signals today regarding the 24th round is that companies are taking a big interest, with particularly extensive and exciting nominations of acreage being made for the Barents Sea…
Norway Offers Record Number of Arctic Exploration Blocks
Norway offered a record number of blocks for oil and gas exploration in the Arctic Barents Sea on Wednesday, brushing off concerns about the risks of drilling in the remote, icy environment. The oil ministry proposed 102 blocks, comprising 93 in the Barents Sea and nine in the Norwegian Sea, despite calls from the Norway's Environment Agency to remove about 20 blocks near Bear Island, an important nesting site for Arctic birds.
Norway Offers 87 Offshore Blocks in Mature Areas
Norway offered oil and gas companies 87 blocks in the mature areas of the Norwegian and the Barents seas on Tuesday, the oil and gas ministry said. The offer includes 34 blocks in the Norwegian Sea and 53 blocks in the Barents Sea, the second largest expansion so far of Norway's so-called predefined exploration areas and in line with a preliminary plan presented in December. The application deadline was set to Sept.
EMGS secures new contract in the Barents Sea
EMGS has received a signed contract from a repeat customer worth NOK 10 million (USD 1.7 million) for 3D EM data acquisition in the Barents Sea. The Company expects to commence the survey in May, using the vessel BOA Thalassa. The company had informed about another contract secured earlier this year for this same vessel in the Barents Sea worth $2.3 million. EMGS
Rosneft Norway Chief: Arctic is the Place To Be
EMGS Sells from its multi-client library - Barents Sea, Norway
Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into a data licensing agreement for the provision of 3D CSEM data from the multi-client data library in the Barents Sea providing net revenue of USD 2.1 million to EMGS. The revenue will be recognized in the third quarter of 2016. EMGS is glad with the oil company's purchase…
Collaboration Sought for Arctic Emergency Strategies
As offshore field developments in the North and Norwegian Seas face maturity, operators on the Norwegian Continental Shelf (NCS) are looking to the more remote areas of the Barents Sea for further development. Here harsher environmental conditions, prolonged periods of darkness and long distances to shore make evacuation and rescue of personnel on Arctic offshore installations more challenging.
Oil Firms Vie for Norway's New Exploration Work
Norway has received applications from 26 oil firms seeking drilling permissions in a licensing round set to move the search for hydrocarbons closer to its border with Russia, the country's Oil and Energy Ministry said on Friday. Competition for many of the blocks had been fierce, the ministry said, not least in the previously unexplored eastern part…
Eni Norge Enters Agreement with DNV GL
Eni Norge AS awards DNV GL a framework agreement for the supply of inspection services to the Goliat platform in the Barents Sea. The term of the contract is three years, with an option for a two-year extension. The assignment consists of planning and carrying out inspections of static equipment, load-bearing structures and offloading and anchoring systems aboard the Goliat FPSO during its operational life.
EMGS expands cooperation with TGS in Barents Sea
EMGS and TGS have agreed to further expand their companies' agreement of cooperation in the Barents Sea. Currently, TGS has a 30% ownership in the multi-client EM data over 17 blocks in the Hoop area. The agreement will be expanded with four new blocks in the Hoop area and 14 blocks in the southeastern area of the Barents Sea. TGS will take a 50% ownership in the EM data over all the new 18 blocks.